The Sun Is Winning. And the Numbers Prove It.
On July 22, 2025, UN Secretary-General António Guterres addressed world leaders in New York with a stark message: “The greatest threat to energy security today is fossil fuels.” His speech, A Moment of Opportunity: Supercharging the New Energy Era, underscored how coal, oil and gas leave economies exposed to volatile prices, supply shocks and geopolitical risks. Renewables, he argued, offer security, stability and affordability. Read the full remarks here.
The data backs him up. According to the International Renewable Energy Agency (IRENA), more than 90% of new renewable projects in 2024 were cheaper than fossil fuel alternatives. Solar photovoltaic (PV), the solar panels we see on rooftops and in vast solar farms, was on average 41% less expensive, while onshore wind came in 53% cheaper (Source: IRENA, Renewable Power Generation Costs in 2024 (July 2025).
As seen in the graph below, the cost of renewable energy has plunged dramatically since 2010. Solar PV prices have dropped by more than 90%, and onshore wind by over 70%, bringing both technologies far below fossil fuel power. Other renewable sources, including hydropower and offshore wind, have also steadily declined.
Figure S1 from IRENA’s Renewable Power Generation Costs in 2024 (International Renewable Energy Agency, July 2025).
